If this were a forum for maximizing profit in sales tactics where we can discuss the intricacies of getting paid for a diagnostic service call regardless of whether you actually diagnose anything correctly, well then...

Here's what I set aside per unit:Taxes:  ~ $100 per monthTurnover expense:  3.5% GSRWater/Sewer/Trash: $30-$45 per monthMaintenance: 12%Cap Ex: 2.5%Overhead: 1%Insurance: ~$25/mo.Debt service (100% leveraged): $350-$400EVERYTHING ABOVE is increased by 10% to account for vacancyAll told, each unit still cash flows between $100 and $200 per month.These are B-/C+ small MF properties.Note I do not pay for management as I self-manage, but that is offset by the increased debt service created by the 100% leverage. 

Hopefully someone can help shed some light on what my options here are:I've been speaking to my dad, who is a service disabled retired veteran, about working together on some REI deals.

Ask the title companies.But take heart if the goal is good service with an experienced accommodator. 

Call Luke at 970 Services!

However, the solo 401k plan permits an in-service distribution of such amounts upon attainment of age 59 ½ or upon a Hardship.https://www.irs.gov/retirement-plans/plan-particip...

@Omar KhanCould you also pm me about your services, I'm I'm in Dallas and have 60k to invest asap.

IMO, that's the simplest way to get started for service members.

It will likely depend more on the property's debt service coverage ratio than on an arbitrary percentage. 

My Contractor an I visited both properties and he provided the quote for services and materials.